Amazon’s Jeff Bezos unveils $2 bn fund for homeless, others

The Bezos Family Foundation, which is best known for its support of children's education, has been largely funded by his parents from Amazon holdings they acquired as early investors in their son's enterprise. Bezos said the network will give the organization the opportunity "to learn, invent and improve", using the same principals that have driven Amazon's growth.

More than a year ago, Bezos posted to Twitter a request for suggestions on philanthropic initiatives created to make a difference in the short term.

The Day 1 Families Fund will issue annual leadership awards to organizations and civic groups doing compassionate, needle-moving work to provide shelter and hunger support to address the immediate needs of young families.

The Day 1 Academics Fund plans to launch and operate a network of high-quality, free Montessori-inspired preschools in underserved communities.

Bezos's wealth has allowed him to pay for side ventures, including starting space exploration company Blue Origin and buying the Washington Post newspaper.

Bezos has yet to join "The Giving Pledge" created by fellow billionaires Bill and Melinda Gates and Warren Buffett, whose more than 180 signatories have promised to give more than half of their fortunes to philanthropy.

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The private non-profit foundation in its 2016 tax filing reported almost $46 million United States in assets, and giving away $30 million U.S. in grants support its missions in early education, K-12 schools reform and youth leadership development and scholarships.

A spokeswoman for Amazon did not offer further details on the new project.

The Amazon chief's wealth has become problematic for some. His net worth has risen by $64.7 billion this year alone as Amazon's shares have surged. Amazon has said the senator's statements about the company are "inaccurate and misleading".

Helping the homeless has also been a focus for Amazon.

Now that question has been answered, at least in part. Earlier this year, the company partnered with the Seattle nonprofit Mary's Place to build a permanent homeless shelter in its headquarters.

Amazon has selected 20 cities as "finalists" for the headquarters and has indicated it would make a decision by year-end.

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